In the new issue of Regulation, economist Pierre Lemieux argues that the recent oil price decline is at least partly the result of increased supply from the extraction of shale oil. The increased supply allows the economy to produce more goods, which benefits some people, if not all of them. Thus, contrary to some commentary in the press, cheaper oil prices cannot harm the economy as a whole.

Two long wars, chronic deficits, the financial crisis, the costly drug war, the growth of executive power under Presidents Bush and Obama, and the revelations about NSA abuses, have given rise to a growing libertarian movement in our country – with a greater focus on individual liberty and less government power. David Boaz’s newly released The Libertarian Mind is a comprehensive guide to the history, philosophy, and growth of the libertarian movement, with incisive analyses of today’s most pressing issues and policies.

Why are waste and fraud so common in the nation’s public school systems, and what can we do about it? One of the most compelling answers I’ve ever seen to those questions can be found in a letter written by… a corruption prosecutor. He was born in the early sixties, and the tiny town where he grew up still didn’t have its own high school—so he decided to found one himself. Rich guy. He could have afforded to not only build it, but also to fully endow it so that tuition would be free. Instead, he decided to cover only a third of the operating costs. In a letter to a friend, he explained his decision:

I would promise the whole amount were I not afraid that someday my gift might be abused for someone’s selfish purposes, as I see happen in many places where teachers’ salaries are paid from public funds. There is only one remedy to meet this evil: if the appointment of teachers is left entirely to the parents, and they are conscientious about making a wise choice through their obligation to contribute to the cost. People who may be careless about another person’s money are sure to be careful about their own, and they will see that only a suitable recipient shall be found for my money if he is also to have their own… I am leaving everything open for the parents: the decision and choice are to be theirs—all I want is to make the arrangements and pay my share.